Recently, AllBright established a cooperative partnership with Shanghai STEP VC Technology Finance Group to advise it on the Shanghai City Angel Investment Fund STEP.

The Shanghai municipal government announced its policy to encourage the development of venture capital funds in July, 2014 and to encourage more parties to establish angel investment funds. The government set up the Shanghai City Angel Investment Fund to spearhead the development of venture capital in Shanghai. Shanghai Municipal Development and Reform Commission has taken the lead to draft and implement related policies with the Science and Technology Commission of Shanghai Municipality, Shanghai Municipal Finance Bureau and Shanghai Municipal Bureau of Local Taxation.

AllBright partner Stone Shi will lead a team of lawyers to advise STEP VC Technology Finance Group on legal issues, including but not limited to due diligence, designing the transaction structure, drafting legal documents and controlling legal risks over the projects.